BANK OF AMERICA CORP (BAC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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January 15, 2015
Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840
jerome.f.dubrowski@bankofamerica.com


Bank of America Reports Fourth-quarter 2014 Net Income of $3.1 Billion, or $0.25 per Diluted Share

Results Include a Total of $1.2 Billion in Negative Charges to Revenue ($0.07 per Share) for Market-related Net Interest Income Adjustment, Adoption of Funding Valuation Adjustments (FVA)(A), and Net Debit Valuation Adjustments (DVA)

Full-year 2014 Net Income of $4.8 Billion, or $0.36 per Diluted Share,
on Revenue of $85.1 Billion(B) 

Continued Business Momentum
Originated $15 Billion in Residential Mortgage Loans and Home Equity Loans in Q4-14, Helping Approximately 41,000 Home Owners Purchase a Home or Refinance a Mortgage
Issued 1.2 Million New Credit Cards in Q4-14, With 67 Percent Going to Existing Relationship Customers
Delivered Record Asset Management Fees in Global Wealth and Investment Management of $2.1 Billion; Pretax Margin of 25 Percent in Q4-14
Global Banking Increased Loans by $3.1 Billion, or 1.2 Percent, From Q4-13 to $273 Billion
Reduced Noninterest Expense to $14.2 Billion in Q4-14, Lowest Quarterly Expense Level Since Merrill Lynch Merger
Excluding Litigation, Noninterest Expense Down $1.2 Billion From Q4-13 to $13.8 Billion(C) 
Legacy Assets and Servicing Expenses, Excluding Litigation, Down $0.7 Billion, or 38 Percent From Q4-13 to $1.1 Billion(D) 
Credit Quality Continued to Improve With Net Charge-offs Down $0.7 Billion, or 44 Percent, From Q4-13 to $0.9 Billion; Net Charge-off Ratio of 0.40 Percent Is Lowest in a Decade

Record Capital and Liquidity Levels
Estimated Common Equity Tier 1 Ratio Under Basel 3 (Standardized Approach, Fully Phased-in) 10.0 Percent in Q4-14; Advanced Approaches 9.6 Percent in Q4-14(E) 
Estimated Supplementary Leverage Ratios Above 2018 Required Minimums, With Bank Holding Company at 5.9 Percent and Primary Bank at 7.0 Percent(F) 
Record Global Excess Liquidity Sources of $439 Billion, up $63 Billion from Q4-13; Time-to-required Funding at 39 Months
Tangible Book Value per Share Increased 5 Percent From Q4-13 to $14.43 per Share(G) 
Book Value per Share Increased 3 Percent From Q4-13 to $21.32 per Share

More


The following information was filed by BANK OF AMERICA CORP on Thursday, January 15, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.
  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0000070858-15-000008
  • Submitted to the SEC: Wednesday, February 25, 2015
  • Accepted by the SEC: Wednesday, February 25, 2015
  • Period Ending: December 2014
Companies
 

BAC

BANK OF AMERICA CORP

$17.78 -0.10 (-0.56%)

Day's Range:
$17.75 to $17.97

52-Week Range:
$14.90 to $18.48

Volume:
16,305,054

Volume (Avg):
77,588,096

Earnings per Share:
$0.96

PEG / Short / PE Ratios:
1.47 / 1.00 / 18.60

Market Cap:
$186.98B

Book Value:
21.91

EBITDA:
$0.00

Morningstar Financial Ratios